Toothbrushes Trending in US as Startup Gets $10M for Electric Toothbrush Business
New York City based startup Quip, has secured $10 million, and the funny thing is they are not the first to get so much capital for a ‘toothbrush business’
Photo Credit : ahchealthenews.com,
Quip, claimed to be a design-driven, direct-to-consumer oral care subscription service based in Dumbo, Brooklyn, New York has announced raising $10 million in Series A funding from multiple parties including Sherpa Capital and partners within the fashion, entertainment and oral care industries.
The new funding will be used to further quip’s vision of revolutionizing oral care through an integrated suite of design-driven everyday products, engaging oral health advice and convenient professional services delivered through their unique patient-professional platform, Dental Connect. Quip’s mission is to elevate the oral care experience, while making better care more simple and accessible to everyone.
Oral care and smart toothbrushes seem to be trending in the US. In January last year Kolibree, a smart oral care company from Las Vegas, had secured about $4 million from investors like Cap Horn and Dental Investment Group for Health.
Prior to that in 2014, a startup from Ohio named Beam Technologies had received $5 million from Drive Capital for oral health initiative of the first ‘connected’ toothbrush. Beam’s technology collects data about a user’s daily hygiene, including measuring how often and how long a person brushes.
The $10 million investment will help Quip push beyond its early stage electric toothbrush focus, supporting the completion of new oral care products and helping grow its tech and creative teams to accelerate development of its professional advice and services platform, Dental Connect. The beta platform connects its hundreds of thousands of subscribers with a growing network of more than 10,000 dental providers nationwide. Serving as a bidirectional resource for Quip members and providers, members receive digital reminders and rewards for 6-month check-ups, while providers are able to offer incentives to attract new patients by gifting Quip toothbrushes, and retain existing ones by covering subscriptions for quip members that visit on time. This investment will accelerate the launch of new services on the platform, as well as facilitating more non-dental corporate partnerships and deeper partnerships with dental service organizations, benefits providers, and dental practices that make quip products even more accessible to patients, while giving providers a deeper connection to new and existing patients.
“Good oral care is one of the most important aspects of overall health, yet most people see it as a chore, or have been led to believe that great care is only accessible to those that can afford expensive products or services. This has led to the average person skipping the simple preventative habits that have by far the biggest impact on their health. With Quip, we are building a service that makes all aspects of oral care — from everyday products to dental check-ups — more affordable, enjoyable and, ultimately, more effective.” says Quip founder, designer and CEO, Simon Enever.
“There is so much industry and consumer investment in personal care, but the oral care market is historically overlooked. We want to bring the same level of care, attention and design to arguably the most important part of everyone’s daily routine, starting with an electric toothbrush that’s designed to make effective brushing, more enjoyable.”
After development in 2013, receiving angel investment in 2014 and launching on only $300,000 of funding in 2015, Quip reached 100,000 sales in its first year. Now, Quip has gathered investment from partners strategically chosen to help its goal to improve oral health by making better oral care more modern, relevant and desirable, including Sherpa Capital – early investors in AirBnB and Uber, Kal Vepuri’s Brainchild fund – an early investor in Harry’s and Warby Parker, Blue Scorpion VC, multi-platinum recording artist Demi Lovato and former head of Sonicare North America, Eric Grosgogeat.
Around The World